Earnings per Share (EPS) and Common Stock

9 Months Ended

Jun. 30, 2021

Earnings Per Share And Common Stock [Abstract]

Earnings per Share (EPS) and Common Stock

5. Earnings per Share (EPS) and Common Stock

EPS

The following table presents the calculation for both basic and diluted EPS:

(in thousands, except per share data)	Three months ended				Nine months ended
	June 30, 2021		June 27, 2020		June 30, 2021		June 27, 2020
Net income	$	51,203	$	34,678	$	183,980	$	77,289
Weighted-average shares outstanding—Basic		116,934		115,759		116,702		115,521
Dilutive effect of restricted stock units		1,677		470		1,479		460
Weighted-average shares outstanding—Diluted		118,611		116,229		118,181		115,981
Earnings per share—Basic	$	0.44	$	0.30	$	1.58	$	0.67
Earnings per share—Diluted	$	0.43	$	0.30	$	1.56	$	0.67

Anti-dilutive shares were immaterial for the three months ended June 30, 2021. There were 0.1 million anti-dilutive shares for the nine months ended June 30, 2021. There were 0.3 and 0.1 million anti-dilutive shares for the three and nine months ended June 27, 2020, respectively.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $1 billion of our common stock in the period October 1, 2020 through September 30, 2023. We did not repurchase any shares in the third quarter and first nine months of 2021 or 2020. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.